Local officials and community groups recently celebrated the completion of 645 Main Street, a new affordable housing property in Peekskill, New York. Developed by the Housing Action Council and Wilder Balter Partners, the 82-unit building will be reserved for individuals and households earning between 40 and 80 percent area median income.
Westchester Medical Center is set to receive a $195 million tax-exempt bond to complete a 163,000 patient care center on its sprawling commercial campus in Valhalla, New York. Known as the Patient Care Tower, the five-story building will have 128 ICU patient beds and facilities for trauma care, neurosciences, cardiology, and general surgery.
Developer LCOR has closed on a $94 million loan to complete a 28-story residential tower in New Rochelle, New York. The property is located at 247 North Avenue and is on track to debut as one of the largest buildings to incorporate a geothermal system for heating and cooling interior spaces.
At the beginning of August, the Yonkers Industrial Development Agency voted to approve financial incentives for a pair of affordable senior housing projects around the city. Together, the projects represent a $22.4 million investment and will support over 170 apartments for low-income seniors.
The Community Lending and Investment division of Wells Fargo has reached a new milestone, $780.3 million in construction financing for affordable housing projects in New York City and Westchester County. The figure represents five loans, all closed in June 2023, the company’s largest-ever half-cycle allocation.
